2017 was a good year for music, especially streaming. The recorded music industry has recovered to almost its 2008 levels, which, if you understand the fall the post-Napster industry took starting around 2001, is very, very good news. The industry grew by $1 billion in 2016, so the $1.4 billion 2017 growth level is a positive sign for those who are working in the industry or those who want to get in. Growth means jobs. Growth means expansion. Growth = Hope
Many readers of this post are DIY artists and/or DIY managers/labels. Look at the lower left number in the graphic above. That $472m (m = million) from “artists direct” means that the combined numbers of aggregators like Tunecore and CD Baby are coming close to half a BILLION dollars. This is DIY money. That’s a rise of $101 million from 2016. Who’s generating that money? This is a global chart, so artists like Chance The Rapper (U.S.) and Stormzy (U.K.) make up a fair percentage of those revenues. We haven’t seen any analysis of this yet, but let’s keep an eye out for it. Pass it along if you see it.
The article is a good read. Give it a click and some love.
(Thanks to Sally Burgos for the link.)
For full details about the Music & Entertainment Industries Program, including courses, the minor, and our MBA, click HERE.
For full details about the WPU Pop Music Studies Program, including courses and audition requirements, click HERE.
Professor David Philp is Assistant Professor Music & Entertainment Industries and Popular Music Studies at William Paterson University. He is the co-host of the only FREE advice college radio-based music & entertainment industry talk show in America, Music Biz 101 & More, which airs live most Wednesday nights and is available as a podcast HERE every night (days too). Your favorite professor is also co-author (with Dr. Steve Marcone) of Managing Your Band – 6th Edition. Reach him at PhilpD@wpunj.edu or find him on LinkedIn HERE.